SOURCE: U-Vend, Inc.

September 22, 2014 08:45 ET

U-Vend, Inc. Signs Agreement to Become Exclusive FastCorp Vending Distributor in Canada

Company Secures Exclusive Rights as Vendor of World's Leading Frozen & Robotic Vending Technology

SANTA MONICA, CA--(Marketwired - Sep 22, 2014) - U-Vend, Inc. (PINKSHEETS: UVND) (the "Company"), a consumer products and technology company driven by innovation that develops, distributes and markets various next-generation self-serve electronic kiosks in a variety of locations including grocery stores, drug stores, mass merchants, malls, and other retail environments across North America announced today that they have signed a Master Distributor Agreement ("MDA") with FastCorp Vending ("FastCorp") to become FastCorp's exclusive vending distributor in Canada. FastCorp, based in Chester, Connecticut is the world's leader in frozen vending machine sales and robotic vending technology.

"Partnering with FastCorp as their exclusive Canadian vending distributor will allow us to streamline the growth of our strategic brand and product placements throughout Canada. Working with a consistent line of durable, high-technology machines will also allow for more efficient installation and management of not only our kiosks, but also of our clients country-wide," said Paul Neelin U-Vend, Inc. founder and Chief Operating Officer. 

"We have tried and tested many styles of automated self-serve kiosks and have selected FastCorp for their high-quality design, their best-in-class technology and their ability to adapt for multiple brands or convert the same kiosk into a secondary brand with ease. FastCorp has also added new features such as a digital front interface that sets both U-Vend and our customers apart from other offerings," stated Raymond Meyers, U-Vend Inc.'s Chief Executive Officer.

Under the agreement, U-Vend will utilize FastCorp's self-serve kiosks for all of their corporate location requirements and will also be representing and marketing FastCorp machines to independent kiosk owner/operators at industry tradeshows throughout Canada. 

"To have U-Vend represent us within the Canadian market provides us with a tremendous expansion opportunity," stated Brian Weinstein, President of FastCorp LLC. "The executives at U-Vend have demonstrated the ability to market, promote, install, and service our automated kiosks nationwide. We look forward to working with the U-Vend team in a long-term partnership," added Weinstein.

The evolution in retail shopping habits and consumer expectations have opened up a tremendous opportunity for innovative self-serve kiosks and robotic delivery of perishable and non-perishable consumer goods. In a 2013 study by the IHL Group, a global research and advisory firm specializing in technologies for the retail and hospitality industries, transactions at self-service kiosks are growing better than 7% per year in North America with transactions through these devices expected to grow past $1.0 trillion this year. 

ABOUT FASTCORP LLC
FastCorp LLC, owned by Connecticut-based Chapco, Inc. and the leader in robotic vending machine technology and frozen food vending machines, offers the state-of-the-art Evolution Vendor, as well as a line of non-frozen machines and custom vending machines. Quality and innovation permeate every aspect of their business, from research and development to design and manufacturing. FastCorp signature design features are what sets the Evolution Ice Cream Vending Machine and other technology apart from the rest.

Robotic and vacuum technology has set the bar for automation efficiency. Used for decades in automotive assembly plants, robots offer a versatility and efficiency that we can no longer live without. The vending industry is just catching up, and FastCorp is leading the charge. Leveraging this technology, FastCorp's robotic and vacuum vending platform is able to vend a wide range of product shapes, sizes and weights, well beyond the capabilities of traditional spiral, conveyor and carousel machines. 

FastCorp also utilizes a simple internal freezer chest design for its frozen and refrigerated applications. Everyone knows that trying to refrigerate and insulate an entire vending machine cabinet will never be as efficient as a chest freezer. FastCorp has understood this simple fact and has implemented chest freezer design into the Evolution Ice Cream Vending Machine to optimize energy efficiency and productivity.

FastCorp continues to develop its line of vendors for the vending and automated retail industry and vertical markets. Vacuum suction is only one means by which products or inventory can be dispensed. FastCorp's leading designers are innovators in the field and are able to adapt the technology to suit a company's specific applications. 

For more information on FastCorp LLC, visit: http://fastcorpvending.com.

ABOUT U-VEND, INC.
U-Vend, Inc. is currently headquartered in Santa Monica, CA. with additional locations in Stoney Creek, Ontario, Canada, Chicago, IL. and Williamsville, NY. U-Vend develops, distributes and markets various "next-generation" self-serve electronic kiosks in a variety of locations ranging from grocery stores, drug stores, mass merchants, malls, and other retail locations in North America. The Company owns and operates kiosks and has partnered with numerous national consumer product companies to deliver new and unique customer retail experiences in an automated setting. 

For more information on U-Vend, visit www.u-vend.com.

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Forward Looking Statements
Certain statements contained in this news release regarding matters that are not historical facts may be forward-looking statements. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, uncertainties pertaining to market acceptance for the Company's products and services, its ability to succeed in increasing revenues in the near term to attain profitable operations and generate sufficient cash flow from operations, the effect of new competitors in its markets, its integration of acquired businesses, and other risk factors identified from time to time in its filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and current reports on Form 8-K which are available at the SEC's website www.sec.gov. Other factors not currently anticipated may also materially and adversely affect U-Vend's results of operations, financial position, and cash flows. There can be no assurance that future results will meet expectations. While the Company believes that the forward-looking statements in this news release are reasonable, the reader should not place undue reliance on any forward-looking statement. In addition, these statements speak only as of the date made. The Company does not undertake, and expressly disclaims any obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Contact Information

  • For more information:

    Corporate Office
    Tel: (855) 55-UVEND
    Email: info@u-vend.com

    Investor Relations
    Tel: (855) 55-UVEND, ext. 3
    Email: ir@u-vend.com